The global pandemic 2020 has promoted a race to capture the market for introducing effective vaccine and treatments. If PFIZER is the sole vaccine provider given the following information, answer the questions below: Output Price/Unit Total Cost 1 5500 1000 2 5000 1200 3 4500 1500 4 4000 2500 5 3500 4000 6 3000 5700 7 2500 7500 8 2000 9400 9 1500 11400 10 1000 13500 Given the tabular information above find the profit-maximizing output and price also illustrate the same using the two-dimensional labeled diagram. Show the calculation as well.
The global pandemic 2020 has promoted a race to capture the market for introducing effective vaccine and treatments. If PFIZER is the sole vaccine provider given the following information, answer the questions below: Output Price/Unit Total Cost 1 5500 1000 2 5000 1200 3 4500 1500 4 4000 2500 5 3500 4000 6 3000 5700 7 2500 7500 8 2000 9400 9 1500 11400 10 1000 13500 Given the tabular information above find the profit-maximizing output and price also illustrate the same using the two-dimensional labeled diagram. Show the calculation as well.
Chapter4: Economic Evaluation In Health Care
Section: Chapter Questions
Problem 1QAP
Related questions
Question
The global pandemic 2020 has promoted a race to capture the market for introducing effective vaccine and treatments.
- If PFIZER is the sole vaccine provider given the following information, answer the questions below:
Output |
Price/Unit |
Total Cost |
1 |
5500 |
1000 |
2 |
5000 |
1200 |
3 |
4500 |
1500 |
4 |
4000 |
2500 |
5 |
3500 |
4000 |
6 |
3000 |
5700 |
7 |
2500 |
7500 |
8 |
2000 |
9400 |
9 |
1500 |
11400 |
10 |
1000 |
13500 |
Given the tabular information above find the profit-maximizing output and price also illustrate the same using the two-dimensional labeled diagram. Show the calculation as well.
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